Juniper Networks to Acquire Funk Software
Monday November 14, 9:00 am ET
Acquisition Will Extend Leadership in Delivering Standards-based Security Solutions
SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 14, 2005--Juniper Networks, Inc. (Nasdaq:JNPR - News) today announced it has signed a definitive agreement to acquire Funk Software, a leading provider of standards-based network access security solutions, in a cash transaction valued at approximately $122 million. This acquisition will bring key technology to enhance Juniper Networks' recently announced unified access control solution and further its strategy to secure and assure the delivery and performance of applications over an IP network. The move also reinforces Juniper's commitment to delivering standards-based solutions that protect customers' current investments, enabling them to secure the infrastructure they have today and overlay additional functionality as their needs evolve. With the addition of Funk Software's technology, Juniper will be delivering the most comprehensive, open and broadly deployed network access solution available.
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"Juniper is committed to delivering standards-based solutions that enable customers to secure the infrastructure they already have, allowing them to protect their technical and financial investments. The addition of Funk Software's technology to Juniper's security products portfolio will reinforce that commitment. Once again Juniper Networks is taking a leadership role as we continue to add value and intelligence to the network," commented Rob Sturgeon, executive vice president and general manager, Security Products Group, Juniper Networks.
Funk Software develops products and technologies that protect the integrity of the network by ensuring both the user and the device meet an organization's security policies before they are granted access. These solutions include market leading products such as its RADIUS/AAA server, Steel-Belted Radius, Odyssey Client, an 802.1X client for wireless and wired networks and its recently introduced Endpoint Assurance Product suite for network-based enforcement of endpoint integrity.
Built on open standards, including those developed by the Trusted Computing Group's Trusted Network Connect (TNC) subgroup, Funk Software's products are interoperable with products from a broad range of security and infrastructure vendors and are in widespread use on every type of network, public and private, wired and wireless. These solutions complement Juniper Networks' existing endpoint intelligence, policy control and enforcement capabilities with Layer 2 support, thereby ensuring comprehensive security across both wired and wireless networks.
Funk Software's products are backed by a strong engineering team, led by founder, Paul Funk, which has consistently demonstrated thought leadership and innovation within the security standards bodies. Juniper will continue to work with its industry partners within the TNC to drive open standards.
"RSA Security has worked with both Funk and Juniper for several years with the common goal of delivering standards-based secure network access for the individual user," commented Art Coviello, president and CEO at RSA Security. "We're pleased to see these two long-term partners come together. We look forward to continuing to work together on technology sharing initiatives, cross-licensing and driving open standards to the benefit of customers worldwide."
The acquisition is expected to close in December 2005, subject to certain customary closing conditions including Hart Scott Rodino approval. |
